FLAMINGO ISLAND
Homes for Sale in Marathon, FL
True comps, carrying-cost math, and listings before the portals.
Market Heat
Flamingo Island sits in Marathon, Monroe County — the Florida Keys — where the price floor is set not by finish level but by land scarcity and water access. The median price of $1,205,000 reflects that geography tax more than square footage: the median home here is roughly 1,560 square feet built in 1988, so buyers are paying primarily for the lot, the Keys address, and whatever water or dock privileges come with it. Condition and updates drive a wide spread from that median in either direction.
The current market posture deserves a candid read. A median of 106 days on market, a market heat score of 27 out of 100, and a year-over-year price shift of negative 23.5 percent all point to a buyer's market in meaningful correction. Only five closings anchor the recent window, so that price movement is directionally significant but statistically thin — one outlier transaction moves the needle. Sellers who priced to 2022 peak expectations are sitting. Buyers who come in anchored to current comps have leverage that has not existed here in years.
FLAMINGO ISLAND right now
🔴 Off the recent peak. The trailing-12-month median ($1.21M) is down 23.5% from the prior 12 months ($1.58M) and up 133% since 2012. With about 6 sales a year, a single closing can swing this number, so read the level and the decade, not one year's move.Momentum Research, record-level floridakeys closed sales, 12-month windows ending July 27. Confidence: Low (5 and 6 sales in the two windows).
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Updated July 27, 2026 · Live data: floridakeys, refreshed twice daily · MLS facts carry their source; interpretation lines are Momentum Research · Data sources & freshness
The 60-Second Overview
FLAMINGO ISLAND market snapshot (as of July 27, 2026): the median sale price is about $1.21M, and a median 106 days on market for closed sales. The trailing-12-month median is down 24% from the prior 12 months and up 133% since 2012, computed from record-level floridakeys closed sales (5 closings in the current window).
FLAMINGO ISLAND is a community of 115 homes in Marathon, Monroe County, built between 1974 and 2024 (median 1988), with a median living area of about 1,560 square feet. 50% of parcels are homesteaded, the owner-occupancy proxy in the Florida DOR assessment roll (2025 roll, public records).
Flamingo Island is a small, established Keys community of roughly 115 homes spanning a half-century of construction, from mid-1970s originals through a 2024 build — a range that means no two properties are truly comparable without a close look at condition, elevation, and lot configuration.
Who FLAMINGO ISLAND is best for.
Best for
- A buyer targeting a Keys second home at or above the $1.2M median who wants to use current softness to negotiate on a property that has been sitting for several months.
- A buyer seeking a full-time Monroe County residence who can hold long-term, absorb insurance costs, and is not dependent on short-term appreciation.
- An investor with a long horizon who understands that the 133 percent gain since 2012 came with significant volatility and is buying for income plus long-term land value, not a quick flip.
Probably not for
- A buyer who needs to resell within two to three years and cannot afford to wait out a market that is currently moving slowly.
- Anyone whose purchase depends on a specific price outcome — the thin transaction volume here makes appraisal and comp support unpredictable.
- A buyer stretching their budget to reach the median price point without a clear, budgeted plan for flood insurance, wind mitigation, and maintenance on a home built in the 1970s through 1990s.
Price History: What Homes Here Have Actually Sold For
Median sale price over the trailing 12 months ending July 27 of each year, from record-level floridakeys closed sales. Same methodology as every appreciation figure on this page: the 2026 point ($1.21M) IS the median in the snapshot above, and the move from 2025 ($1.58M) IS the -23.5% one-year change.
Windows contain 3 to 11 sales each (5 in the current window); every figure carries its sample size, and thin markets swing on single closings. Listing data provided by Florida Keys MLS, Inc. Information is deemed reliable but is not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
The real cost & risk here
Before the list price, the Florida math the portals skip. These are Monroe County typicals — your exact home, flood zone, and insurance quote will vary, so verify each before you offer.
Check it for your address: look up your flood zone (FEMA) · insurance by county · true-cost calculator · Monroe County scorecard.
County typicals from Momentum’s Florida housing data (Zillow & Realtor.com aggregates, Census, FRED), updated monthly; insurance modeled. Flood zone is property-specific — always confirm via FEMA.
The FLAMINGO ISLAND buying strategy.
If we were buying in FLAMINGO ISLAND today, this is the order of operations we would run for our clients.
Underwrite the condition first. Price the roof, HVAC, and systems honestly before judging any list price; condition swings value here more than square footage alone.
Match the home to real comps. Recent sales of similar condition and lot, not the asking price, tell you what a home is worth.
Move deliberately, not desperately. Neither side has a decisive edge, so a well-prepared, fairly-priced offer wins without overpaying.
Line up financing and inspection early. A pre-approval and an inspection plan let you act fast and negotiate from evidence.
Keep an agent in your corner. The listing agent works for the seller; we represent you and prepare a hand-built valuation before any offer in FLAMINGO ISLAND.
Reading the Numbers Beneath the Numbers
Roughly half the homes — just under 50 percent — carry a homestead exemption, which tells you this is not a pure investment or vacation community. A meaningful share of owners use these as primary residences, which tends to keep the ownership fabric more stable than heavily investor-rotated Keys neighborhoods. The flip side: when primary-residence owners sell, they often have long holding periods and strong equity, which can make price negotiation slower and more deliberate even in a softening market.
The long-run context matters here. Since 2012, prices have risen approximately 133 percent — a compounding that reflects both the Keys' structural supply constraint and the broader Florida coastal run-up. The current correction of nearly 24 percent year-over-year is real, but it lands on top of that long baseline. Buyers should not conflate a correction with a collapse; they should use it as the negotiating context it is. With 106 median days on market, patient, well-prepared buyers have time to conduct proper due diligence — elevation certificates, flood zone classification, insurance quotes, and inspection — before committing.
The location and the amenities are priced into every listing in FLAMINGO ISLAND. The deal is won or lost on condition, the comps, and the renovation math.
Momentum Buy Score.
Our proprietary 0 to 10 read across the factors that decide how a home in FLAMINGO ISLAND buys, holds, and resells. Momentum Research; not an appraisal.
Momentum Intelligence Scores are our proprietary, qualitative assessment on a 0 to 10 scale, built from the record-level market data on this page. They are a framework for comparing communities, not a guarantee of future value and not advice on a specific home; unlike an automated value estimate they do not price your home, they grade the community on evidence you can inspect. Composite is the plain average of the 4 factors (5.0). Basis: Long-Term Appreciation +133% since 2012; Recent Direction -23.5% year-over-year; Owner Commitment 50% owner-occupied; Pricing Power 94.8% sale-to-list. Refreshed with each data update.
Why work with Momentum here
Keys transactions carry layers that mainland closings do not: flood insurance underwriting, elevation certificate interpretation, FEMA map status, and Monroe County permitting history all have to be factored before an offer is structured. Momentum brings that analytical discipline to the table — not to slow a deal down, but to make sure the price you negotiate accounts for everything that will hit your carrying costs after closing. In a market with a thin closing volume and wide price variance, a broker who reads comps carefully and knows how to weight condition and lot utility is the difference between a well-positioned offer and one that overpays or under-negotiates.
FLAMINGO ISLAND in 15 seconds.
HOA, CDD & Fees
- Mandatory HOA — confirm current dues
- Any club/amenity membership is billed separately
Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.
Tools for a FLAMINGO ISLAND buy.
Free calculators to pressure-test the real cost before you tour.
Selling here is won on condition and pricing to real comps, not an automated estimate. The right number comes from closed FLAMINGO ISLAND sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in FLAMINGO ISLAND, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your FLAMINGO ISLAND home worth?
Get a no-obligation home value based on real comparable sales in FLAMINGO ISLAND, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.
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Frequently Asked Questions
What is the median home price in FLAMINGO ISLAND?
How long do homes in FLAMINGO ISLAND take to sell?
How many homes are in FLAMINGO ISLAND?
What share of FLAMINGO ISLAND is owner-occupied?
When were the homes in FLAMINGO ISLAND built?
Do cash buyers compete in FLAMINGO ISLAND?
Have FLAMINGO ISLAND home prices gone up?
Who is the best real estate agent for FLAMINGO ISLAND?
How do I find a top Marathon real estate agent who knows FLAMINGO ISLAND?
Can Momentum Realty connect me with an agent for FLAMINGO ISLAND?
Should you buy in FLAMINGO ISLAND?
An honest fit check. We will tell you when it is not your community.
Data sources & freshness
| Community market stats | floridakeys closed sales, 12-month windows ending July 27, 2026 |
| Housing stock & ownership | Florida DOR 2025 assessment roll (street-list match (6 streets, ZIP 33050)) |
| Historical depth | Closed-sale records back to 2003 (123 transactions analyzed) |
Verify the primary sources yourself: Florida DOR · U.S. Census · FEMA flood maps · Citizens Property Insurance.
Momentum Research figures are our own analysis of floridakeys records; MLS data is deemed reliable but not guaranteed. Methodology: how Momentum market scores are computed. Market metrics describe homes for sale and recent sales, not residents.
Own a home here?
You just read the data. Now see what your home is worth.
The numbers on this page move markets in the aggregate. The number that matters to you is what a buyer pays for your address. Momentum sells for 1.25% above the floridakeys member average and 8 days faster, and we’ll price yours against live your area comps.
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More Marathon & The Florida Keys & Monroe County guides
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